In today’s briefing:
- [ETP 2025/12] WTI Gains on Geopolitical Uncertainty, Henry Hub Falls on Rising Nat-Gas Stockpiles
- SCZ: Accelerated Debt Payment Plan with Glencore
- Condor Energies Inc. (TSX: CDR): Production rises again. Maiden reserves report. First LNG sales in Kazakhstan on track for 1H26
- Enterprise Product Partners: How Is It Dealing With Export Market Volatility & Other Challenge?
[ETP 2025/12] WTI Gains on Geopolitical Uncertainty, Henry Hub Falls on Rising Nat-Gas Stockpiles
- For the week ending 14/Mar, U.S. crude inventories rose 1.7m barrels (vs. expectations of 0.8m build), gasoline stockpiles fell below expectations, and distillate inventories declined more than anticipated.
- US natural gas inventories rose by 9 Bcf for the week ending 14/Mar, more than analyst expectations of a 3 Bcf build. Inventories are 10% below the 5-year seasonal average.
- Barclays cut Exxon’s price target to USD 135 from USD 137 with an Overweight rating, while Citigroup lowered Occidental’s target to USD 51 from USD 56 with a Neutral rating.
SCZ: Accelerated Debt Payment Plan with Glencore
- What you need to know: • Santacruz announced that it plans to accelerate its debt payments to Glencore, saving $40M and cleaning up the balance sheet.
- • SCZ paid Glencore $10M yesterday and will making bi-monthly payments of $7.5M to Glencore until it reaches a total of $40M by the end of October 2025.
- • We recently initiated coverage on SCZ, read the report here.
Condor Energies Inc. (TSX: CDR): Production rises again. Maiden reserves report. First LNG sales in Kazakhstan on track for 1H26
- • 4Q24 production in Uzbekistan was 10,511 (in line) rising to 12,019 boe/d in March-to-date and 12,288 boe/d in the past five days following the third successful workover in the area.
- At least six additional well candidates with similar geological characteristics have been identified, expected to further boost production.
- Multiple other independent workovers candidates being matured.
Enterprise Product Partners: How Is It Dealing With Export Market Volatility & Other Challenge?
- Enterprise Products Partners LP reported its financial results for the fourth quarter of 2024, demonstrating both strengths and challenges within its extensive energy infrastructure network.
- In terms of financial performance, the company experienced a notable increase in adjusted cash flow from operations, which rose by 4% to $2.3 billion compared to the same quarter the previous year.
- Net income attributable to common unitholders also increased, registering a 3% rise to $1.6 billion or $0.74 per common unit.
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